Interviews

Interview with Simon Tillyer, Director at Tenant Referencing Platform: Vouch

Interview with Simon Tillyer, Director at Tenant Referencing Platform: Vouch

February 10, 2021
Interview with Suzanne Wylde, Creator of Suzanne Wylde Coaching

Interview with Suzanne Wylde, Creator of Suzanne Wylde Coaching

January 5, 2021
Interview with Tex Dworkin, Co-Founder of Raddle

Interview with Tex Dworkin, Co-Founder of Raddle

January 5, 2021
Interview with Ram Krishnna Rao, CEO of MarketOrders

Interview with Ram Krishnna Rao, CEO of MarketOrders

January 5, 2021
Interview with Priscila Martinez, Founder of The Brand Agency

Interview with Priscila Martinez, Founder of The Brand Agency

January 5, 2021
Interview with Brianna Parks, Owner of Brianna Parks Photography

Interview with Brianna Parks, Owner of Brianna Parks Photography

January 5, 2021
Interview with Stan Pavlovsky, CEO at Shutterstock

Interview with Stan Pavlovsky, CEO at Shutterstock

January 6, 2021
Interview with Austin Woodward, the CEO of Taxbit

Interview with Austin Woodward, the CEO of Taxbit

January 6, 2021
Load More

Popular posts

  • f

    “Superman Syndrome”, The Case Of A 10-year-old Vietnamese Boy

    797 shares
    Share 319 Tweet 199
  • Greta Thunberg Ominously Claims AOC’s Green New Deal Is ‘Very Far From Being Enough’

    791 shares
    Share 316 Tweet 198
  • How to Increase Breast Size Naturally At Home

    702 shares
    Share 281 Tweet 176
  • Tina Louise, last surviving ‘Gilligan’s Island’ star, reveals truth about Dawn Wells

    679 shares
    Share 272 Tweet 170
  • Fans are losing their minds over Justin Bieber’s NSFW underwear video

    659 shares
    Share 264 Tweet 165
  • Bidbrain: Next-Generation AI-based Bidding Platform for Traffic Acquisition & Bid-Optimization for Google Shopping Ads

    653 shares
    Share 261 Tweet 163
  • Covid-19 Excessively Restrict The Freedoms Of Citizens To Greenpeace

    650 shares
    Share 260 Tweet 163
  • Interview with Austin Woodward, the CEO of Taxbit

    645 shares
    Share 258 Tweet 161
  • Noted Hollywood Liberals Among Major Donors To Lincoln Project

    638 shares
    Share 255 Tweet 160
  • Trump Livid That Melania Hasn’t Been On Any Magazine Covers While Michelle Obama Was On 12

    637 shares
    Share 255 Tweet 159
  • About Us
  • Contact
  • Team Members
  • Cookie Policy
  • Editorial Policy
  • Privacy Policy
Wednesday, March 22, 2023
  • Login
Jax Daily
  • Home
    • Home – Layout 1
  • News
    How can Ai help with website design?

    How can Ai help with website design?

    Sinema’s Decision To Leave Democratic Party Sparks Criticism, Speculation

    Sinema’s Decision To Leave Democratic Party Sparks Criticism, Speculation

    DRIVING TIPS FOR A SAFE NEW YEARS EVE FROM YOUR INJURY LAWYERS

    Cryptoprosol Provides the Best Crypto Com Support

    Cryptoprosol Provides the Best Crypto Com Support

    Increased State Approval of Sports Entertainment Improves Reputation of Online Firms

    The Importance of Sustainability in Architectural Research

    The Importance of Sustainability in Architectural Research

    eCommerce Industry Finds Joolo Media as a Trusted Source of Professional Photo Editing Service

    In the amazing world of Photoshop, photo background removal service offers opportunity for employment

    A girlfriend deliberately spreads STDs, but the Sue in Order to create awareness

    Bill and Melinda Gates part their ways after 27 years of marriage

    Bill and Melinda Gates part their ways after 27 years of marriage

    Trending Tags

    • Donald Trump
    • Future of News
    • Climate Change
    • Market Stories
    • Election Results
    • Flat Earth
  • Tech
    Apple’s highly anticipated mixed reality headset rumored to debut at WWDC in June

    Apple’s highly anticipated mixed reality headset rumored to debut at WWDC in June

    Apple may release an upgraded iPhone 16 Ultra in 2024

    Apple may release an upgraded iPhone 16 Ultra in 2024

    Google’s Bard demo leads to 7% share decline due to a factual error

    Google’s Bard demo leads to 7% share decline due to a factual error

    New Bing: Microsoft pushes AI war further with ChatGPT integration

    New Bing: Microsoft pushes AI war further with ChatGPT integration

    Twitter may charge brands $1,000 to retain their Gold verified badge

    Twitter may charge brands $1,000 to retain their Gold verified badge

    A box packed OG iPhone is set to auction for $50,000

    A box packed OG iPhone is set to auction for $50,000

    Samsung unveils Galaxy S23 series with “made for Galaxy” Snapdragon processor

    Samsung unveils Galaxy S23 series with “made for Galaxy” Snapdragon processor

    Netflix crackdown nears as streaming giant tightens password sharing rules

    Netflix crackdown nears as streaming giant tightens password sharing rules

    Apple strengthens account security with hardware keys support

    Apple strengthens account security with hardware keys support

    Twitter borrows TikTok’s “For You” in new iOS update

    Twitter borrows TikTok’s “For You” in new iOS update

    Trending Tags

    • Flat Earth
    • Sillicon Valley
    • Mr. Robot
    • MotoGP 2017
    • Golden Globes
    • Future of News
  • Entertainment
    Meet Flag: Inside fashion designer Tommy Hilfiger’s $46M mega yacht for sale

    Meet Flag: Inside fashion designer Tommy Hilfiger’s $46M mega yacht for sale

    Drew Barrymore stands up for ‘grumpy’ Hugh Grant following viral Oscars interview

    Drew Barrymore stands up for ‘grumpy’ Hugh Grant following viral Oscars interview

    Incredibly rare Batman debut Detective Comics could sell for $1.5M

    Incredibly rare Batman debut Detective Comics could sell for $1.5M

    Josh Duggar’s 12.5-year prison sentence for child pornography conviction extended

    Josh Duggar’s 12.5-year prison sentence for child pornography conviction extended

    Ben Affleck reveals J.Lo’s Grammys tiff: ‘You better f–king not leave’

    Ben Affleck reveals J.Lo’s Grammys tiff: ‘You better f–king not leave’

    Taylor Swift ticket prices are dropping. How much are they now?

    Taylor Swift ticket prices are dropping. How much are they now?

    Pat Sajak apologizes for making fun of contestant’s fear on ‘Wheel of Fortune’

    Pat Sajak apologizes for making fun of contestant’s fear on ‘Wheel of Fortune’

    Rihanna fans attack Jimmy Kimmel’s pronunciation skills at Oscars 2023

    Rihanna fans attack Jimmy Kimmel’s pronunciation skills at Oscars 2023

    ‘SNL’ spoofs the Oscars red carpet with ‘Access Hollywood’ sketch

    ‘SNL’ spoofs the Oscars red carpet with ‘Access Hollywood’ sketch

    Dermot Mulroney joined Instagram for ‘Scream VI’

    Dermot Mulroney joined Instagram for ‘Scream VI’

  • Lifestyle
    Fun Washi Tape Projects for a Playroom

    Fun Washi Tape Projects for a Playroom

    Eisbach Watches – TIDRON UT 360GM-T Series

    Abdulla Bahzad’s Fitness – Raising the bar for fitness to give Tomorrow a better and fitter start

    Abdulla Bahzad’s Fitness – Raising the bar for fitness to give Tomorrow a better and fitter start

    How to Choose the Right Towels for Your Family?

    How to Choose the Right Towels for Your Family?

    How Long Does A Latex Mattress Last?

    How Long Does A Latex Mattress Last?

    How to Arrange A Home Spa Night: A Plan of Procedures and Products You Will Need

    How to Arrange A Home Spa Night: A Plan of Procedures and Products You Will Need

    Top 3 Tips to Help You Start Over In Life

    Top 3 Tips to Help You Start Over In Life

    Tactical Knife (source: Zoran Borojevic)

    Point Blank Life Review: Tactical Knives vs Regular Knives

    The Nikola, just like Croatia: “Wild and Beautiful”

    The Nikola, just like Croatia: “Wild and Beautiful”

    CCNA 200-301 Exam Preparation Guide To Follow

    CCNA 200-301 Exam Preparation Guide To Follow

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Politics
    Biden Vetoes Bipartisan Bill, Therefore Keeping Left-Wing Wokeness in Your Retirement Accounts

    Biden Vetoes Bipartisan Bill, Therefore Keeping Left-Wing Wokeness in Your Retirement Accounts

    Marxist Biology Teacher Tells Students Cells Are Part of ‘Capitalist Indoctrination’, Wants Them to ‘Have no Respect For Authority’

    Marxist Biology Teacher Tells Students Cells Are Part of ‘Capitalist Indoctrination’, Wants Them to ‘Have no Respect For Authority’

    ‘One Is Too Many’: Challenges Persist In Veteran Suicide Prevention

    ‘One Is Too Many’: Challenges Persist In Veteran Suicide Prevention

    Pentagon Report Details Alien Mothership Theory About Sending Probes To Earth

    Pentagon Report Details Alien Mothership Theory About Sending Probes To Earth

    Man Accused In $83.6 Million Fraudulent COVID-19 Testing Scheme Out On Bond

    Man Accused In $83.6 Million Fraudulent COVID-19 Testing Scheme Out On Bond

    Texas Sheriff: County ‘Under Siege’ With Escalating Border Crisis

    Texas Sheriff: County ‘Under Siege’ With Escalating Border Crisis

    Will Taxpayers Be On The Hook For Bank Bailouts?

    Will Taxpayers Be On The Hook For Bank Bailouts?

    Ron DeSantis Makes His Case in Iowa

    Ron DeSantis Makes His Case in Iowa

    Daily Wire’s Michael Knowles Pushes Back Against Backlash From Recent Speech: “I’m Just Not Really a ‘Genocide’ Kind of Guy”

    Daily Wire’s Michael Knowles Pushes Back Against Backlash From Recent Speech: “I’m Just Not Really a ‘Genocide’ Kind of Guy”

    Two Men Who Hunted, Killed Bald Eagle Were Here Illegally According to Rep. Kat Cammack

    Two Men Who Hunted, Killed Bald Eagle Were Here Illegally According to Rep. Kat Cammack

    Trending Tags

    • Mr. Robot
    • Flat Earth
    • Sillicon Valley
  • Business
    JPMorgan, Deutsche Bank must face lawsuits over Jeffrey Epstein ties

    JPMorgan, Deutsche Bank must face lawsuits over Jeffrey Epstein ties

    Jimmy Finkelstein’s media startup The Messenger ripped over ‘delusional’ business plan

    Jimmy Finkelstein’s media startup The Messenger ripped over ‘delusional’ business plan

    Nearly 200 banks at risk for same fate as SVB: study

    Nearly 200 banks at risk for same fate as SVB: study

    ChatGPT creator Sam Altman ‘a little bit scared’ of his creation

    ChatGPT creator Sam Altman ‘a little bit scared’ of his creation

    FTX funneled $3.2B to Sam Bankman-Fried, other execs: court filing

    FTX funneled $3.2B to Sam Bankman-Fried, other execs: court filing

    SEC’s Gary Gensler unveils plan to prevent hacking, systems failure

    SEC’s Gary Gensler unveils plan to prevent hacking, systems failure

    SVB collapse reportedly being probed by Justice Department, SEC

    SVB collapse reportedly being probed by Justice Department, SEC

    Pfizer to pay $43B for Seagen, boosting cancer drug portfolio

    Pfizer to pay $43B for Seagen, boosting cancer drug portfolio

    Hedge fund manager Bill Ackman warns of ‘economic meltdown’ following Silicon Valley Bank collapse

    Hedge fund manager Bill Ackman warns of ‘economic meltdown’ following Silicon Valley Bank collapse

    NYC toy store Camp begs customers for help following Silicon Valley Bank collapse

    NYC toy store Camp begs customers for help following Silicon Valley Bank collapse

    Trending Tags

  • Interviews
    Interview with Simon Tillyer, Director at Tenant Referencing Platform: Vouch

    Interview with Simon Tillyer, Director at Tenant Referencing Platform: Vouch

    Interview with Suzanne Wylde, Creator of Suzanne Wylde Coaching

    Interview with Suzanne Wylde, Creator of Suzanne Wylde Coaching

    Interview with Tex Dworkin, Co-Founder of Raddle

    Interview with Tex Dworkin, Co-Founder of Raddle

    Interview with Ram Krishnna Rao, CEO of MarketOrders

    Interview with Ram Krishnna Rao, CEO of MarketOrders

    Interview with Priscila Martinez, Founder of The Brand Agency

    Interview with Priscila Martinez, Founder of The Brand Agency

    Interview with Brianna Parks, Owner of Brianna Parks Photography

    Interview with Brianna Parks, Owner of Brianna Parks Photography

    Interview with Stan Pavlovsky, CEO at Shutterstock

    Interview with Stan Pavlovsky, CEO at Shutterstock

    Interview with Austin Woodward, the CEO of Taxbit

    Interview with Austin Woodward, the CEO of Taxbit

    Interview with Dan Murray-Serter, Co-founder and CEO at Heights

    Interview with Dan Murray-Serter, Co-founder and CEO at Heights

    Interview with Emily Smith, Founder of Chorus

    Interview with Emily Smith, Founder of Chorus

    Trending Tags

    No Result
    View All Result
    Jax Daily
    No Result
    View All Result
    Home Business

    FedEx CEO’s warning of worldwide recession tanks shares, shakes market

    by Avery Cooper
    September 17, 2022
    in Business
    0
    FedEx CEO’s warning of worldwide recession tanks shares, shakes market
    498
    SHARES
    1.4k
    VIEWS
    Share on FacebookShare on Twitter

    FedEx CEO Raj Subramaniam’s ominous warning of a worldwide recession drove the shipping company’s shares to their worst day in decades Friday and sent Wall Street’s main indexes to near two-month lows.

    FedEx’s stock plunged more than 21% after the company reported a major slump in global shipping volumes and withdrew its full-year guidance in a pre-earnings announcement. Friday’s decline was the worst one-day result in company history dating to at least 1978, according to Dow Jones Market Data.

    The company, which will report its first-quarter earnings next week, expects adjusted earnings per share to be $3.44 on revenue of $23.2 billion for the quarter. Analysts polled by Refinitiv had expected earnings per share of $5.14 on revenue of $23.59 billion.

    The company’s struggles reverberated through the broader market after CNBC’s Jim Cramer asked Subramaniam in an interview Thursday evening if he felt the economy was headed for a “worldwide recession.”

    “I think so,” Subramaniam said. “These numbers, they don’t portend well.”

    “We are a reflection of everybody else’s business, especially the high-value economy in the world,” the FedEx CEO added.

    FedEx is widely seen as a bellwether for the overall health of the US economy, with a slowdown in shipments feeding fears of a slowdown in economic activity. US GDP has already declined for two straight quarters – the widely-held definition of a recession.

    FedEx
    FedEx is seen as a bellwether for the overall economy.
    LightRocket via Getty Images

    “We’re seeing that volume decline in every segment around the world, and so you know, we’ve just started our second quarter,” Subramaniam said. “The weekly numbers are not looking so good, so we just assume at this point that the economic conditions are not really good.”

    Analysts from Deutsche Bank decried the quarterly report as the worst miss they’ve tracked in 20 years.

    Raj Subramaniam
    FedEx’s warning sparked fear among investors Friday.
    Sipa USA via AP

    The Dow quickly fell more than 300 points when it opened Friday before paring the losses to close down 139.40. The decline capped a painful week in which the Dow plunged nearly 1,300 points on Tuesday after the release of the latest inflation print, which was 8.3%. It ended the week at 30,822.40, the lowest since July 14.

    All of the 11 S&P sectors declined, led by a 2.3% fall in the industrial sector. The Dow Jones Transport Average Index dropped 5.1%.

    FedEx Rivals UPS and XPO Logistics slid 4.4% and 6.8%, respectively, while Amazon.com Inc slipped 2.9%.

    “What people are worried about is this the canary in the coal mine, we start to see some warnings from some companies across different industries suggesting outlook might be worse than we had been pricing it,” said Todd Lowenstein, chief equity strategist of the Private Bank at Union Bank.

    “The market is in a sort of tug of war for the most part. On one hand you have these rapidly deteriorating fundamentals, on the other hand there was this what I call a misplaced hope for sort of a resurrection of the Fed pivot. The market is increasingly coming to terms that the Fed is not going to be there to save the day.”

    The Fed is widely expected to deliver the third straight 75-basis-point rate hike at its meeting on Sept 20-21 after recent data failed to alter the expected course of aggressive policy tightening.

    FedEx’s profit warning Thursday triggered a frenzy in after-hours trading that spilled into Friday trading. The company’s ticker was the most visited on Yahoo Finance’s platform as investors tracked the carnage.

    “Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the US,” Subramaniam added in a company release. “We are swiftly addressing these headwinds, but given the speed at which conditions shifted, first quarter results are below our expectations.”

    FedEx also unveiled plans for a series of cost-cutting measures, including the closure of 90 office locations, a reduction of flight volumes and a hiring slowdown.

    Major US stock indices all finished lower as investors digested the FedEx CEO’s warning. The Dow Jones Industrial Average experienced its worst weekly losses since 2020 following major declines earlier this week on hotter-than-expected August inflation data.

    Tags: Business
    Share199Tweet125Share50
    Avery Cooper

    Avery Cooper

    Popular posts

    • f

      “Superman Syndrome”, The Case Of A 10-year-old Vietnamese Boy

      797 shares
      Share 319 Tweet 199
    • Greta Thunberg Ominously Claims AOC’s Green New Deal Is ‘Very Far From Being Enough’

      791 shares
      Share 316 Tweet 198
    • How to Increase Breast Size Naturally At Home

      702 shares
      Share 281 Tweet 176
    • Tina Louise, last surviving ‘Gilligan’s Island’ star, reveals truth about Dawn Wells

      679 shares
      Share 272 Tweet 170
    • Fans are losing their minds over Justin Bieber’s NSFW underwear video

      659 shares
      Share 264 Tweet 165
    • Bidbrain: Next-Generation AI-based Bidding Platform for Traffic Acquisition & Bid-Optimization for Google Shopping Ads

      653 shares
      Share 261 Tweet 163
    • Covid-19 Excessively Restrict The Freedoms Of Citizens To Greenpeace

      650 shares
      Share 260 Tweet 163
    • Interview with Austin Woodward, the CEO of Taxbit

      645 shares
      Share 258 Tweet 161
    • Noted Hollywood Liberals Among Major Donors To Lincoln Project

      638 shares
      Share 255 Tweet 160
    • Trump Livid That Melania Hasn’t Been On Any Magazine Covers While Michelle Obama Was On 12

      637 shares
      Share 255 Tweet 159

    Copyright © 2021 JaxDaily.

    • About Us
    • Contact
    • Team Members
    • Cookie Policy
    • Editorial Policy
    • Privacy Policy

    No Result
    View All Result
    • Home
    • News
      • Politics
      • World
      • Science
    • Entertainment
      • Music
      • Movie
      • Sports
    • Tech
      • Apps
      • Gear
      • Mobile
      • Startup
    • Lifestyle
      • Food
      • Fashion
      • Health

    Copyright © 2021 JaxDaily.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In